Analyst Explains Why They Upgraded Their Rating on AMC Entertainment (AMC)


B.Riley FBR analyst Eric Wold upgraded AMC Entertainment (AMC) to Buy today and set a price target of $20. The company’s shares closed on Friday at $14.98.

Wold commented:

“We are upgrading AMC Entertainment (AMC) from and raising our PT from $18 to $20. Recall that we downgraded AMC from 1/22/19 partially due to concerns around margin and usage risks around the Stubs A-List subscription program—with AMC shares rising by 3.6% since that time compared to a 8.3% gain for the the same period. At the time of our downgrade, we noted that we would revisit our rating and valuation outlook as more visibility is gained into Stubs A-List subscription program and the industry enters the spring/summer period (when box office trends were expected to strengthen).”

According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.5% and a 40.0% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

Currently, the analyst consensus on AMC Entertainment is a Moderate Buy with an average price target of $19.83.

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AMC Entertainment’s market cap is currently $1.55B and has a P/E ratio of 19.86. The company has a Price to Book ratio of 1.11.

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AMC Entertainment Holdings, Inc. engages in the theatrical exhibition business through its subsidiaries. It operates through the United States Markets and International Markets segments. The company was founded on June 6, 2007 and is headquartered in Leawood, KS.

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